Bhatia Communications & Retail (India) Ltd. (BSE: 540956), a leading company engaged in the retail and wholesale distribution business of trading mobile handsets, tablets, home appliances and other electronic equipment, has announced that its board will meet on July 20, 2024 to consider the proposal to raise funds, to accelerate business growth and to augment the long term financial resources of the Company, by way of issue of Warrants/Equity Shares/Convertible Securities, subject to all necessary approvals.
Earlier, the company reported strong earnings for the year ended 31 March 2024. For FY24, the company reported Revenue at Rs. 415 Cr, recording a growth of 20% YoY. EBITDA Grew 25% YoY, and was reported at Rs. 18.45 Cr. Net Profit (PAT) came in at Rs. 11.53 Cr, growing 36% YoY.
Bhatia Communications & Retail (India) Ltd. is engaged in the retail and wholesale distribution business of trading mobile handsets, tablets, data-cards, mobile accessories, air conditioners, washing machines, and other electronic equipment. It sells smart mobile handsets of all major brands, including Apple iPhone, Samsung, Oppo, Vivo, Honor, Jio, Realme, Redmi, Nokia, and more. These products, along with tablets, data cards, and accessories, are available under one roof through its retail outlets located across the South Gujarat region, including Surat, Vapi, Valsad, Navsari, Vyara, and other towns in South Gujarat. Additionally, the company provides the same services through its franchise retail chain dealers in the South Gujarat region.
The business began in 2008 with a single shop by taking over the running business of the partnership firm M/s. Bhatia Watch & Gift. Now operating under the name Bhatia Communication/Bhatia Mobile – “The Mobile One Stop Shop,” it has expanded. As of FY24 the company has 203 stores (193 owned and 10 franchise). The company is deepening footprint in Maharashtra with a target of 25 stores by FY25
Besides mobile handsets, tablets, and accessories, the company is also engaged in trading home appliances such as televisions (smart TV, LED TV, and LCD TV), air conditioners, air coolers, microwaves, refrigerators, washing machines, and other home appliances. It sells these home appliances from various brands like Akai, Whirlpool, Kenstar, Panasonic, Haier, Voltas, Usha, and many more.
The company also provides credit/EMI facilities to its customers for purchasing its products. It has tied up with major leading credit houses to offer these services.